Development Watch – Week #5 Sept’26

Development News

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Office leasing picks post AI and Geopolitical uncertainty

Large office leasing deals across India’s top cities are back on track, with corporates that had held back amid geopolitical uncertainty and growing questions around AI-led workforce disruption now finalising deals as they remain confident about long-term growth. India’s office leasing market is showing signs of recovery as corporates resume decisions delayed by geopolitical uncertainty and concerns over AI’s impact on hiring. Global capability centres (GCCs) and technology firms executing long-term expansion plans in the country continue to anchor leasing momentum. Carbon-neutral workspace provider CG Offices said several sizeable deals are being closed in the current quarter. The longer-term demand for office space, combined with improving transaction activity, is also making commercial real estate more attractive to developers and investors.

Renaissance Solar to invest Rs. 5,000 Crores in Karnataka

Renaissance Solar and Electronic Materials has announced plans to invest Rs 5,000 crore in Karnataka. The company aims to establish a 5 GW solar ingot and wafer manufacturing facility by mid-2028. This facility will be located in the Chennai-Bengaluru Industrial Corridor in Tumakuru. RSOLEC has requested 100 acres of land, along with 80 MW of power and 10 million litres per day of water. The company has sought 100 acres of land in the Chennai-Bengaluru Industrial Corridor (CBIC) region in Tumakuru for the proposed facility, Patil said in a statement after meeting RSOLEC chairman and CEO Milind S Kulkarni on Thursday.

Steel Bridge for bullet train set up in Maharashtra

A 100-meter-long steel bridge for the Mumbai-Ahmedabad bullet train project has been successfully installed in Thane. This bridge, weighing 1,405 metric tonnes, is the first of its kind in Maharashtra. It was transported from a workshop in Trichy, Tamil Nadu, and assembled on-site after traveling 1,300 kilometers. Sixteen out of the planned twenty-eight steel bridges along the bullet train corridor have now been completed. The 14-metre-high and as-wide structure was launched over National Highway-3 at Dive-Anjur village in the Bhiwandi area here on Monday, a release by the National High-Speed Rail Corporation Limited (NHSRCL) said.

Rs. 400 Crores for maiden real estate AIF

Poddar Keventer Capital Advisors Private Limited plans to raise up to Rs 400 crore for its Category II AIF. The fund will focus on real estate projects in Kolkata and Delhi over the next six years. Sponsors have committed to 20% of the target corpus, which stands at Rs 80 crore. The fund aims for a gross IRR of 18% to 22% before expenses. The fund targets a corpus of Rs 400 crore, expandable to Rs 600 crore through a Rs.200 crores greenshoe option will invest in projects by this joint venture in Kolkata and Delhi. The Poddar Keventer Real Estate Fund – Scheme I will pursue a secured real estate debt strategy across Delhi-NCR and West Bengal, with a target gross IRR of 18%–22% before expenses.

EV sales increase due to hike in fuel prices

India’s electric vehicle market recorded substantial growth in September, with sales reaching 34,894 units. This represents a 95% increase compared to last year’s figures. Tata Motors maintained its market leadership with a 42.2% share, while Mahindra followed with 22.2%. Interestingly, newer entrants like VinFast and Maruti Suzuki captured significant market shares within a short span. EV market leader Tata Motors retained its lead at 42.2% share, while Mahindra held 22.2%. VinFast surged to an 8.5% share in its first full year, while Maruti Suzuki entered the market with a 3.1% share. Despite an 8.9% volume growth, JSW MG saw its share fall to 15% as competition intensified. Registrations in the first nine months of the calendar year advanced 83% to 248,890 units from 135,682 units a year earlier.

Dibrugarh to resume Int’l cargo movement on Brahmaputra

Dibrugarh is set to resume international cargo movement through the Brahmaputra river, transporting methanol to Bangladesh. Two vessels are prepared for this operation, carrying 1,080 tonnes of methanol from Bogibeel. The journey spans approximately 783 kilometres and is expected to take about seven days. This initiative aims to revitalize trade connections previously established during British rule. The expanded cargo transport will support local producers by opening international market access. Each container will hold around 20 tonnes of methanol, allowing each vessel to transport approximately 540 tonnes. Together, the two vessels will carry 1,080 tonnes of methanol on the journey.

Rs. 1,789 Crores plan for ITMS in Delhi NCR

Delhi will get a technology-driven traffic management overhaul after the Cabinet approved Rs 1,789.52 crore for an Intelligent Traffic Management System (ITMS). The project will cover 42 corridors. It will use AI-enabled adaptive signals, automated enforcement, real-time congestion alerts and emergency vehicle priority to improve traffic flow, road safety and commuter information. The new system is designed to help authorities manage traffic based on real-time road conditions instead of relying mainly on fixed signal timings and manual intervention. Electronic monitoring and enforcement systems using technologies such as cameras and automatic number plate recognition are already part of broader traffic-management efforts in India.